MBA in Healthcare Management

healthcare-mba

An MBA in healthcare management is an advanced business degree that includes the study of key topics in the healthcare industry. The degree is relevant for individuals who want to pursue executive positions in which they oversee the business side of healthcare. With an MBA in healthcare management, students earn a broad range of graduate business and managerial knowledge. They also gain an overview of key trends and issues that affect the management of healthcare facilities and services

Who needs an MBA in Healthcare Management?

An MBA in healthcare management is a valuable credential for anyone interested in pursuing a leadership position in the healthcare industry. The degree is relevant for those working in the healthcare industry with plans for advancement to executive positions. However, prior healthcare experience typically isn’t required for degree candidates. An MBA in healthcare management also is useful for managers in any industry who are planning to transfer their business skills to an executive track in healthcare.

Since an MBA in healthcare management gives students a foundation of general advanced business concepts, it is applicable to a wide range of positions in the healthcare system. Graduates typically succeed in careers that lead to posts such as hospital administrators, CFOs, and IT managers. They often gain jobs where they are involved in making decisions related to the delivery of efficient patient services in healthcare facilities, senior care centers, rehabilitation centers, and private physician practices.

However, graduates with an MBA in healthcare management aren’t limited to positions related to patient services. With advanced expertise in traditional business concepts, graduates can easily transfer their knowledge to any of the businesses that serve as ancillary organizations, vendors or partners to the healthcare industry. An MBA in healthcare management can prepare students to assume decision-making posts in businesses such as healthcare pharmaceuticals, insurance, and consulting.

What is the Curriculum for an MBA in Healthcare Management?

An MBA in healthcare management is primarily a business degree. As a student, you can expect to spend the majority of your studies in graduate-level business courses. Your knowledge of the healthcare industry typically will be gained from a concentration of several core businesses courses. Many programs allow you to tailor your healthcare management coursework in concentrations that reflect your specific career goals within the industry.

Most MBA programs cater to the demands of working students, so you can expect to find an MBA in healthcare management that fits your schedule and lifestyle. Many options exist in which you can complete your degree partially or even completely online. You also may be qualified for college credit based on work experience, depending on the terms of your specific degree program.

An MBA in healthcare management typically includes courses in many of the following business subjects:

  • Accounting
  • Business Research
  • Data Analysis
  • Economics
  • Finance
  • Human Resources
  • Marketing
  • Operations Management
  • Organizational Management

Examples of graduate-level healthcare courses you might study while pursuing  an MBA in healthcare management may include:

  • Systems in Healthcare
  • Healthcare Financial Management
  • Healthcare Policy Analysis
  • Legal Considerations in Healthcare
  • Ethics in Healthcare

Many MBA in healthcare management programs require the completion of a capstone project. A capstone project typically is done in the last semester of your degree. It allows you to demonstrate what you have learned by proposing an in-depth solution to a real-world situation.

How useful is an MBA in Healthcare Management?

An MBA in healthcare management can help you compete for one of the many managerial opportunities expected to occur in the healthcare industry. Growing industry demands are likely to increase the number of healthcare management jobs. Advanced healthcare degrees, such as an MBA in healthcare management, may give applicants an advantage in obtaining these jobs, according to the U.S. Bureau of Labor Statistics.

An MBA in healthcare management has many applications in the healthcare industry. The traditional MBA curriculum has held its value as the pinnacle of business education because its graduates earn a knowledge base that can be transferred across all industries, including healthcare. Graduates gain the managerial skills necessary to make sound business decisions in a constantly changing business environment. With consideration of the unique characteristics of the healthcare industry, they can apply their MBA coursework to many executive level positions.

MBA Subject Studied Who Can Use It How it is Applied
Organizational Management Hospital CEO Direct facility operations and personnel toward a cohesive goal
Accounting, Finance Hospital CFO Manage facility budgets, contracts, and financial records
Operations Management Hospital Administrator Oversee day-to-day operations of facility and staff
Data Analysis IT Manager Manage computer software and hardware for financial and medical records
Human Resources Medical Practice Manager Oversee staffing and scheduling of private medical practice
Marketing Pharmaceutical Products Manager Analyze product markets, opportunities, and promotions
Economics Healthcare Consultant Assess an organization for efficiency and advise improvements

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